457 S 500 E - Apartments FOR SALE


Provo, UT 84606- Maeser
$799,900 USD
801-879-4642
457 S 500 E, Provo, UT for Sale
$799,900 USD
Apartments - FOR SALE
1/21
null | 5.92% Cap Rate

457 S 500 E
Provo, UT 84606
Maeser


OVERVIEW

SIGNIFICANT VALUE-ADD, CASH COW 6-PLEX OPPORTUNITY in Provo, BYU market, with a solid 6.18% cap (as is!) with easy 7%-cap potential simply by increasing rents (which are BELOW MARKET)! Recent rate increase validates the pro forma rent assumptions! Increase the cap to mid or upper 7's by self managing. UPDATED: roof (approximately 6 years ago), kitchens, bathrooms, flooring, fixtures, with recent exterior improvements to paint, siding, & window sealing! Tenants currently enjoy use of a secure, free laundry area in basement of neighboring 6-plex. Additional income opportunity also available through managing utilities differently (units metered separately!). LOCATION: near BYU, with quick access to I-15 & Provo downtown entertainment, restaurants, & shopping. Purchase the neighboring 6-plex (same seller) for operational efficiencies! 5 1-bed units; 1 2-bed unit. Square footage per county records. Buyer/agent to verify all. Do not disturb tenants; offer subject to inspection.

FOR SALE DETAILS

PRICE

$799,900 USD

PRICE/SF

$244 USD /SF

# OF UNITS

6

PRICE/UNIT

$133,317

CAP RATE

5.92%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1925

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

-

APN/PARCEL ID

05-048-0010

ASK ABOUT THIS PROPERTY

Ashley CurtisPrime Real Estate ExpertsMore Info
801-879-4642

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Ashley CurtisPrime Real Estate ExpertsMore Info
801-879-4642

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.